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CBN  boosts naira with injection of more dollars to the market

CBN boosts naira with injection of more dollars to the market

2017-04-03 03:41:51

Barely three days after the naira weakened against the United States dollar, the Central Bank of Nigeria is set to boost the local unit with the injection of more dollars into the foreign exchange market this week. The CBN, it was learnt, was planning to increase dollar supply with a view to ensuring liquidity in the interbank market. This came barely one week after the apex bank promised to increase the sale of dollars to Bureaux de Change operators from $8,000 per week to $10,0000 twice a week. The CBN has been engaged in aggressive supply of forex into the… continue reading


Babangida promotes indiscipline in Nigeria armed forces- Bamaiyi

Babangida promotes indiscipline in Nigeria armed forces- Bamaiyi

2017-04-03 03:33:40

A former Chief of Army Staff, Lt. Gen. Ishaya Bamaiyi (retd.), has blamed a former military dictator, Gen. Ibrahim Babangida (retd.), for the indiscipline in the armed forces. Bamaiyi, in his new book, Vindication of a General, said a former Head of State, Gen. Yakubu Gowon (retd.), was the first Nigerian leader to encounter the problem of indiscipline in the armed forces. He said that Gowon, however, made efforts to restore discipline in the armed forces. “The efforts were successful until 1985, when General Babangida overthrew General Buhari and declared himself President,” Bamaiyi stated. Bamaiyi also explained how Buhari’s removal… continue reading


War on corruption will continue says Presidency

War on corruption will continue says Presidency

2017-04-03 03:27:37

The Presidency has vowed that the war against perfidy and corruption will continue notwithstanding resistance and fight back from the opposition.“Let me say one thing. Those whose illicit ways of accumulating money have been stopped will criticise this government but all that will not derail the unfaltering commitment of the President Muhammadu Buhari to the war against corruption,” presidential spokesman, Garba Shehu said in a statement yesterday. Shehu maintained that the President is aware that this was one of the main reasons why Nigerians in their millions put their trust in him; the main reason they voted him into power… continue reading


Fall of oil price threatens government’s revenue projections

Fall of oil price threatens government’s revenue projections

2017-03-24 02:44:41

The fall in price of crude from $50 to $48 a barrel as at yesterday is threatening the revenue projections of the Federal Government. With approved crude oil price benchmark in the 2017 budget at $44.50 per barrel, about $3.5 is now being earned as excess revenue per barrel of crude oil exported at the prevailing market price of $48 a barrel. But, at the former price of $50 per barrel, the country was retaining about $5.5 as excess revenue per barrel. Therefore at Nigeria’s production figure/ Organisation of the Petroleum Exporting Countries (OPEC) quota of 2.2 million barrels per… continue reading


Fayose cautions police over handling of Ile-Ife crisis

Fayose cautions police over handling of Ile-Ife crisis

2017-03-24 02:41:28

kiti State Governor, Mr. Ayodele Fayose, has cautioned the police over the handling of its investigation on the recent crisis in Ile-Ife, Osun State. He said: “It appears that the police have so far demonstrated ethnic bias in its investigation and this is not good for the unity of Nigeria and its people.” Besides, a Yoruba socio-cultural group has called on all traditional rulers in the zone, including the Ooni of Ife, Oba Adeyeye Ogunwusi, Alaafin of Oyo, Oba Lamidi Adeyemi, not to remain docile while Hausa-Fulani intensify their alleged treachery against Yoruba over the recent Ile-Ife mayhem where scores… continue reading


Reps raises security concerns over Kaduna airport

Reps raises security concerns over Kaduna airport

2017-03-24 02:39:37

The House of Representatives yesterday alleged collapse of security that is likely to arise from inadequate ramp markings, poor fuelling and cattle intrusion into the Kaduna airport. The allegation followed a motion by Adeyinka Ajayi, Osun Central Federal Constituency II (Ifelodun/Boripe/Odo-Otin), Osun State, which drew the lawmakers’ attention to ‘safety concerns around aviation activities at the Kaduna International Airport.’ He told the House that if not checked, along with the congestion of the airport by air travellers, the Federal Government might lose its International Civil Aviation Organisation (ICAO) licence. Ajayi said the ramp markings at the airport were inadequate, while… continue reading


Iheanacho preserves Rohr’s unbeaten Nigerian record

Iheanacho preserves Rohr’s unbeaten Nigerian record

2017-03-24 02:37:39

Manchester City striker Kelechi Iheanacho’s penalty seven minutes from time secured a 1-1 draw with Senegal, preserving Nigeria coach Gernot Rohr’s unbeaten record on Thursday. Veteran striker Moussa Sow had given the Senegalese — ranked five places higher than the Nigerians in the African football rankings — the lead early in the second-half. That goal looked like giving the Teranga Lions a first win in their last 14 meetings, dating back to 1977, in a match watched by just over 2,000 diehard fans in Barnet. The spectators had to sit through a pretty uneventful first 54 minutes before 31-year-old Sow… continue reading


China approves $5b to support projects in Nigeria

China approves $5b to support projects in Nigeria

2017-03-23 03:40:26

The Peoples Republic of China Ambassador to Nigeria, Zhou Pingjian said his home country had approved $5 billion to support infrastructure projects in Nigeria. Pingjian stated this yesterday when he paid a courtesy visit to the National Chairman of the All Progressives Congress (APC), Chief John Odigie-Oyegun, at the party’s secretariat in Abuja. The Chinese envoy requested the party’s support in ensuring Nigeria’s ‘full execution’ of the China’s policy between both countries. He also canvassed the need for co-operation and collaboration between the governing parties of both countries – the APC and the Communist Party of China (CPC). Pingjian, who… continue reading


Eagles tackles Senegal despite terrorist attack

Eagles tackles Senegal despite terrorist attack

2017-03-23 03:38:14

The Nigeria Football Federation (NFF) says the friendly match between the Super Eagles and Teranga Lions of Senegal slated for today at the Hive Stadium in London will hold despite a terrorist attack in the city yesterday. A woman was killed on Westminster Bridge in central London in what police said was a terrorist incident yesterday afternoon. A police officer was also stabbed in the nearby Houses of Parliament by an attacker, who was shot dead by police, while a number of other people were hurt – some with “catastrophic” injuries. The attacker struck several pedestrians as he drove a… continue reading


Ife crises: Afenifere steps in

Ife crises: Afenifere steps in

2017-03-23 03:36:34

Worried about what it described as illegal and unconstitutional arrest of 21 indigenes of Ile-Ife, Osun State over the recent clash between the community and the Hausa, Yoruba socio-cultural group, Afenifere has vowed to intervene in the issue. Afenifere, in a statement by its National Publicity Secretary, Mr. Yinka Odumakin said: “As a first step to our position on the crisis, we have assembled a team of lawyers to enforce the fundamental human rights of the 21 Yoruba persons.” According to them: “It is a clear fact that the investigation and trial of suspects must take place at the scene… continue reading


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